The latest results from the Meliadine West gold project in the Northwest Territories bode well for equal partners Cumberland Resources (CBD-T) and Comaplex Minerals (CMF-T).
The project is under option to a unit of Australian major WMC International, which can earn up to a 60% interest by spending $12.5 million on exploration and development.
Deep drilling on the project, situated 15 km north of Rankin Inlet, intersected 29.9 metres grading 13.37 grams gold per tonne at 380 metres below surface. True widths are estimated at between 80% and 90% of core length.
Drilling on the TC zone returned 29.9 metres of 13.37 grams in hole 97-140, which was collared 100 metres west of two of the most strongly mineralized holes drilled last year (44.8 metres of 9.26 grams and 57.9 metres of 6.27 grams). The results seems to indicate a westward extension of the zone.
Further drilling is planned.
Preliminary results from the Wolf zone, 5 km west of the TC zone, yielded more positive results, including 2.3 metres of 16.68 grams gold in hole 104.
More recent results indicate that the Wolf zone and outlying targets, such as the F zone, have strong potential for gold mineralization, Cumberland reports.
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